EVs to get even cheaper as price war enters ‘knockout’ round

Jessica SierNorth Asia correspondent

Dec 5, 2024 – 11.49am

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Tokyo | Australian customers are set to benefit from an increasingly brutal price war in the electric vehicle market as China’s manufacturers pressure suppliers to dramatically slash costs.

Industry heavyweight BYD, which is backed by Warren Buffett’s Berkshire Hathaway, has demanded its auto-parts suppliers cut prices by 10 per cent, according to an email circulated last week on the internet in China.

Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.